Blackstone (NYSE:BX) Price Target Raised to $132.00 at BMO Capital Markets
by Michael Walen · The Markets DailyBlackstone (NYSE:BX – Get Free Report) had its target price boosted by research analysts at BMO Capital Markets from $126.00 to $132.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ target price would indicate a potential upside of 13.61% from the company’s current price.
A number of other research firms have also recently weighed in on BX. HSBC lowered their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday. UBS Group lowered their price target on Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Jefferies Financial Group lowered their price target on Blackstone from $161.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. The Goldman Sachs Group lowered their price target on Blackstone from $158.00 to $118.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Finally, Rothschild & Co Redburn lowered their target price on Blackstone from $158.00 to $138.00 and set a “neutral” rating for the company in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.55.
Check Out Our Latest Research Report on BX
Blackstone Stock Up 1.2%
NYSE BX opened at $116.19 on Monday. The business has a fifty day moving average price of $117.75 and a 200 day moving average price of $141.01. Blackstone has a one year low of $101.73 and a one year high of $190.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $86.23 billion, a P/E ratio of 29.75, a P/E/G ratio of 1.18 and a beta of 1.74.
Blackstone (NYSE:BX – Get Free Report) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the company earned $1.69 EPS. The company’s revenue for the quarter was up 41.4% on a year-over-year basis. Research analysts anticipate that Blackstone will post 5.87 EPS for the current fiscal year.
Insider Activity
In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of BX. Norges Bank acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $1,275,747,000. Capital Research Global Investors increased its holdings in shares of Blackstone by 99.2% in the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after purchasing an additional 3,178,133 shares during the period. Vanguard Group Inc. increased its holdings in shares of Blackstone by 1.9% in the third quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after purchasing an additional 1,335,060 shares during the period. Amundi increased its holdings in shares of Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after purchasing an additional 1,249,269 shares during the period. Finally, Close Asset Management Ltd increased its holdings in shares of Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after purchasing an additional 1,133,197 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.
About Blackstone
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.